Description

BSE releases member user manual for submitting Software as a Service (SaaS) compliance reports through the BEFS portal.

Summary

BSE has issued a detailed user manual for trading members to submit Software as a Service (SaaS) compliance reports through the BSE Electronic Filing System (BEFS). The manual provides step-by-step instructions for members to declare their usage of SaaS-based solutions and submit required information through a dedicated online portal.

Key Points

  • Trading members must use Microsoft Edge browser exclusively for SaaS submissions
  • Microsoft Excel 2007 or above is required for the process
  • Members access the submission portal via BEFS > SaaS > Submission
  • Members must select submission period and indicate Yes/No for SaaS service usage
  • Multiple SaaS services can be added by clicking ‘Save’ button for additional entries
  • Members not using SaaS services must select ‘No’ and provide remarks/comments
  • Submitted reports can be viewed through SAAS > View SAAS Report menu
  • Successful submission generates confirmation message: “SAAS Submission has been successfully submitted”

Regulatory Changes

This circular introduces a formal reporting mechanism for SaaS usage by trading members, requiring periodic disclosure of software-as-a-service solutions being utilized in their operations.

Compliance Requirements

  • Trading members must log into BEFS portal using Microsoft Edge browser
  • Members must complete SaaS submission for the specified period
  • Members using SaaS services must provide details of all services being used
  • Members not using SaaS services must submit ‘No’ declaration with remarks
  • All submissions must be completed through the designated BEFS portal interface

Important Dates

No specific deadlines mentioned. Members should submit reports based on the submission periods as they become available in the system.

Impact Assessment

This advisory impacts all BSE trading members by introducing a compliance reporting requirement for SaaS-based solutions. The implementation is primarily procedural and aims to improve transparency and oversight of technology solutions used by market participants. Members must ensure they have appropriate browser and software configurations to meet the submission requirements.

Impact Justification

Procedural guidance for trading members on SaaS reporting compliance through BEFS portal. Important for operational compliance but not market-wide impact.